Announcing his plans to have a new comprehensive mobility plan for the Mumbai Metropolitan Region, chief minister Devendra Fadnavis on Monday, Day 2 of the Make in India Week, invited investment into Mumbai.

Fadnavis, who promised to give "quick and swift" clearances to all small, medium or big investors, claimed that his various departments have already begun the work of cutting down on paperwork and easing business permissions across Maharashtra.

The chief minister also announced the need for having a "Built in Mumbai" week that will focus exclusively on providing affordable housing to Mumbaikars.

"With 50% of our population living in slums, we now want to start the Built in Mumbai initiative that will aim at providing cheaper homes. We will soon start a massive campaign for it," Fadnavis added.

He said infrastructure is key to the growth of Mumbai's economy and infrastructure as it will not only create an ecosystem for a good life, but will also add to Make in Mumbai and create jobs. "All services can create business opportunity. Ease of doing business and simplification of procedures is of utmost importance and both the state and central governments are working on a war footing."

New business districts similar to the Bandra-Kurla Complex, besides new highways and railways and elevated corridors that cut through congestion, may breathe new life into making Mumbai, a global centre for financial services. "In India, only Mumbai can possibly be such a base, but physical infrastructure and the regulatory structure have a long way to go." he added.

Throwing light on the growing consumer demand, Fadnavis said, "We are a billion plus people. Consumers rule and dictate terms in the market. When the world says we want to invest, we should be ready to receive that investment by creating opportunities, so that the entire global community benefits. We should leverage on possibilities and capabilities."

Citing infrastructure as the only hindrance in its dream of becoming a global financial hub, the chief minister added, "The pace of growth should match the pace of infrastructure. We need a comprehensive mobility plan to transform Mumbai into an economic commercial region."

Addressing the conference, chief secretary Swadheen Kshatriya said, "We know our strengths and weaknesses. Sanitation and affordable housing will make the Make in Mumbai initiative a success."

He added that they look to complete the Navi Mumbai airport by 2019, while the trans-harbour link connecting Mumbai to Navi Mumbai will be ready in three to four months.

The drastic reduction of base floor area ratio (FAR) to 1.2 from earlier 1.5 to 2.75 in the newly notified Odisha Transferable Development Right Rules, 2015 is likely to soar up real estate property rates by 30-35 per cent in Odisha, realtors says.They have red flagged the reduction of FAR , the ratio obtained by dividing total covered area on all floors by the area of the plot, in the rules.

NEW DELHI: Realtors' body CREDAI today hailed the selection of first 20 cities for 'Smart City' programme, saying the initiative would provide great opportunity for the real estate development, particularly in the affordable home segment, with improvement in infrastructure of these towns.

With over 70% of investors expecting improvement in sales over the next 12 months, the Indian realty market may be heading towards a revival in 2016, a research report by property consultant JLL India and Royal Institute of Chartered Surveyors (RICS) says. And surprisingly, Bengaluru has pipped the Natonal Capital Region to become the second preferred investment destination for the investors after Mumbai. But the positive sentiment is driven by rising demand for commercial realty, not for reside

New Delhi: Net office space absorption fell sharply by 44 per cent in Delhi-NCR during last year to 3.83 million sq ft as leasing transactions largely pertained to relocation, consolidation and renewals of spaces.

NEW DELHI: Godrej Properties has signed a development management agreement with NCR-based builder Lotus Greens to build a housing project on 36 acre land parcel in sector 150 of Noida. This is its first foray into the Noida market.

Radiating out from Delhi into the National Capital Region are two expressways. The one in the east runs 22 km through Noida and Greater Noida. The other in the south stretches for 18 km between Dwarka and Kherki Daula. On either side of both these expressways are vast expanses that have been opened up for development by realtors.

MUMBAI: The real estate sector is likely to see improvement in sales and equity deals in 2016 as the economy shows signs of revival on the back of various policy decisions taken by the government, a report said.

2016 may be a good year to buy a home. Property prices have remained stagnant for almost a year. While the quoted inventory prices may not have changed, better deals are available in terms of spot discounts, flexible payment plans and freebies across most major residential markets. So, this may be the best time to haggle hard and book a property. "Right now, buyers can get up to 20% additional values in the form of freebies and discounts," says Muddasir Zaidi, national director, residential, Kni